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Real Exchange Rate Misalignment in Turkey, 1987-2003 (in Turkish)

Kibritcioglu, Aykut; Kibritcioglu, Bengi - EconWPA - 2004

Real exchange rate misalignment measures deviations of actual real exchange rate from its long-run, or equilibrium …, level. Policy makers and many researchers are interested in predicting and monitoring misalignment in the foreign exchange … of misalignment employed in this study show that the differences between these alternative measures vary between 6.5 and …

Persistent link: https://www.econbiz.de/10005412763

Budget Deficit Persistence and the Twin Deficits Hypothesis

Normandin, Michel - EconWPA - 1996

This paper gauges the causal relationship between external and budget deficits by using Blanchard's overlapping generations model. This model sests the twin deficits hypothesis (i.e. there is a positive relationship between the deficits) and the Ricardian equivalence hypothesis (i.e. there is no...

Persistent link: https://www.econbiz.de/10005561364

Investment-Saving Comovement under Endogenous Fiscal Policy

Levy, Daniel - EconWPA - 2005

I expand Feldstein’s (1983) model by including flexible exchange rate and by introducing endogenous fiscal policy. Using this model, I demonstrate how a positive investment-saving correlation can arise in a world with endogenous fiscal policy. I show that this correlation does not depend on...

Persistent link: https://www.econbiz.de/10005119430

Real Exchange Rates in Central and Eastern Europe : What Scope for the Underlying Fundamentals?

DUFRENOT, Gilles; Egert, Balazs - EconWPA - 2003

The aim of this paper is to study the the fundamental macroeconomic determinants of both the CPI and the PPI-based real effective exchange rate in 5 selected acceding countries from Central and Eastern Europe, i.E the Czech Republic, Hungary, Poland, Slovakia and Slovenia. The paper is based on...

Persistent link: https://www.econbiz.de/10005407633

Real Exchange Rates in Central and Eastern Europe : What Scope for the Underlying Fundamentals?

DUFRENOT, Gilles; Egert, Balazs - EconWPA - 2003

Persistent link: https://www.econbiz.de/10005407661

Trade Balance and Exchange-Rate for a Small Open Economy during the EMS: The Hellenic Case 1983:1-1995:12

Theodoros, Stamatopoulos - EconWPA - 2005

We are interested on assessing the effectiveness of the Bank of Greece (BoG) exchange rate policy, to achieve the objective of adjusting balance of payments des-equilibrium, during the period 1983:1-1995:12. The traditional theory of the balance of payments adjustment process through exchange...

Persistent link: https://www.econbiz.de/10005408156

Purchasing power parity: an empirical study of three EMU countries

Duarte, António Portugal - EconWPA - 2005

We apply Purchasing Power Parity (PPP) theory to the analysis of long- run equilibrium in the foreign exchange market. We study the case of Portugal vis-à-vis Germany and Spain, and the case of Spain vis-à-vis Germany, in the period 1960-1990. The empirical analysis was based on unit-root...

Persistent link: https://www.econbiz.de/10005408164

Is the Feldstein-Horioka Puzzle Really a Puzzle?

Levy, Daniel - EconWPA - 2004

Using the framework of a dynamic intertemporal optimization model of an open economy, it is shown that the long-run investment-saving correlation follows directly from the economy's dynamic budget constraint and this does not depend on the degree of international capital mobility. Therefore,...

Persistent link: https://www.econbiz.de/10005119491

Purchasing power parity: an empirical study of three EMU countries

Duarte, António Portugal - EconWPA - 2005

Persistent link: https://www.econbiz.de/10005124909

Inflation, Output, and Stabilization in a High Inflation Economy: Turkey, 1980-2000

Dibooglu, Selahattin; Kibritcioglu, Aykut - EconWPA - 2001

This paper surveys and examines the sources of fluctuations in inflation and output in Turkey. Using a dynamic open economy aggregate supply - aggregate demand model with imperfect capital mobility and structural vector-autoregressions, the authors consider real oil price, supply, balance of...

Persistent link: https://www.econbiz.de/10005126163